Setting a Budget for Online Scratch Card
With each passing day, more and more bettors are discovering the exciting world of online scratch cards. When people play scratch cards over the internet, they enjoy both a tremendous convenience advantage and the chance to win huge prizes. Of course, if you’re going to keep playing for big cash payouts, it’s important to sustain a decent-sized bankroll. This being said, let’s take a quick look at some tips for how to set up a budget for internet scratch cards.
Determining your Plans
Before setting up a bankroll for when you play scratch cards, it’s a must to determine what you’re going to be doing first. For example, do you wish to buy five $0.50 cards a day or are you going to be playing 10 cards worth $2 a piece daily. Sure the nature of online scratch cards means that you’ll sometimes be bouncing from different prices, but most players have a typical amount they usually spend. Once you know this number, you’ll be able to effectively set up a solid plan.
Doing the Math
If you predetermine that you’ll buy 10 cards worth $2 daily, this is $20 that you’re willing to risk each day and $140 per week. So if your bankroll was $200, you’d have about enough money to cover losing cards for a week and a half. Luckily online casino games don’t work like this because you’re going to be winning plenty of money along the way, which makes further calculations necessary.
Assuming the online scratch cards you play collectively carry a 7% house edge, you would really only have to budget for average losses of $9.80 per week (140 x 0.07). With this calculation, you could theoretically stretch the $140 bankroll out over 14 weeks. As you can see, it’s not extremely difficult to set up a rough guideline for a scratch card bankroll.
Factoring in Volatility
In the section above, we just laid out a nice, neat budget of $9.80 per week. But like any casino game, you’re not going to be dealing with straight calculations when you play scratch cards. In fact, there’s a high volatility associated with online scratch cards, meaning you might win absolutely nothing with your first 30 cards, then suddenly hit a $500 payout.
Taking all of this into account, you need to figure that the average player won’t fall exactly in line with a 7% long-term house edge (or whatever the edge is). So to be conservative, you may want to take the low end of this and say that you’re dealing with a 20% casino advantage in the short-term. This way, you’re not totally surprised when you hit a rough patch and lose a $140 bankroll within the first three weeks of playing.
Purpose of Setting up a Budget
Merely setting up a budget for when you play scratch cards is not going to change the house edge. That said, many people wonder what the point of calculating a budget is if it won’t technically change your long-term odds. And the answer is that making a budget can both prevent you from spending money you don’t have and extend your chances to play scratch cards longer.
To illustrate the latter point, let’s say that you don’t have a set budget and continue buying online scratch cards until you have absolutely no bankroll left. At this point, you can either deposit money that you can’t afford to lose or sit around without a chance to play scratch cards for a long time. Obviously neither of these options are particularly attractive to a serious player, which is why a budget is important.
Sure there’s nothing forcing you to follow any set budget, but it provides a nice guideline that makes you mindful of not blowing through your bankroll. Plus it only takes a few minutes to create a budget, thus providing further incentive to do so.